Rabu, Juli 05, 2006

He expected that Major Iraqi investors in Arab bourses, especially in Gulf countries, will sell a portion of their investments and invest in Iraqi Stock Exchange market when observing signs of positive change in Iraq. The same is true for the Arab investors, "especially after the issuance of a legislation that enables them to invest", He pointed out that prices of shares on Iraqi Stock Exchange is much lower than other markets, which is the most appropriate investment opportunities for non-Iraqis.

Regarding stock exchange electronic trading, he said that they have plans related to trading, cooperation and openness to the world. He pointed out that a committee from the Board of Market Governors Bourses visited Dubai and Bahrain and submitted a report to the Council about market needs of electronic transactions and deposit center systems. He added that the Swedish company "OMX" was chosen to apply and update these systems for five years starting from the date of application and operation.

And Abid Al-Salam expected that the application of electronic trading will improve performance of stock exchange dramatically and qualitatively. He said : "We are currently holding two sessions a week for two hours each, but with the help of electronic trading we'll have two sessions a day : morning, evening sessions, so ten sessions per week. Then the buyer can buy in morning session and sell in the evening or vice versa. And electronic trading will also enable us to be connected electronically with three banks to enable investors to obtain financial clearance after the sale. "(Source)Dar Al-Hayat